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HashChing is Australia’s first online marketplace allowing consumers to access great home loan deals without having to shop around. Completely FREE to consumers, HashChing connects you directly to verified mortgage brokers who can further negotiate a better rate from the lenders and save you time, hassle and money.

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Glenn

2 years ago

Hi Md Z, Ihope you're well? The best thing to do is to get in touch with an experienced broker on this site such as myself or the brokers who have responded and have them go through a fact find or customer information form to get a full picture of your unique financial situation. This will include all income, living expenses, liabilities and dependants. Being self employed you are able to use some add-backs if you have any that a lender can use and your living expenses will also make a difference in how much you can borrow and in the end, afford. Giving you borrowing capacities without looking at the whole picture is not a good indication as there is more to providing a borrowing amount with brief information and this comes under responsible lending. Kindest Regards. Glenn Rowan

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Melanie

2 years ago

Hi MdZ, as a very rough estimate, you can borrow between $250,000 and $350,000 but we would need to meet up to discuss loan suitability, lender preference, etc. Look forward to helping you further! Mel

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Nikki

2 years ago

Hi Md Z, thanks for the further information. As a rough guide you could potentially borrow within the vicinity of 360k to 400k. I will need to do a detailed analysis on your financial situation and what your goals are to make further recommendations. I am located on the Gold Coast and would be happy to help. Please go through my profile if you would like to contact me. Best Regards

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Craig

2 years ago

Hi Md Z, I specialise in helping self-employed people and their families. Your borrowing capacity is approximately $350,000. Importantly, we need to discuss your current situation and your financials goals for the future. I can then give you all the information you need to make the right decision for you property purchase. You can click on my profile and I will phone you back. Regards Craig Tracey

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Stephen

2 years ago

Like the majority of people it is not a question of how much a lender would give you but the more important question is working out what you can afford to borrow. Not much point getting an unmanageable loan that you can't repay comfortably each month. I would focus on your living costs and how much you have been saving over the last 6 - 12 months plus any rent you have been paying.

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Michael

2 years ago

Hi MD Z, short answer is based on the income only you can borrow $280-$300k. Will need to know what debts you may have inclusive of credit cards etc. Have you claimed depreciation?

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Douglas

2 years ago

Hi Md Z, there may be multiple options available for you and your family. With 1 year or 2 year financials. Has your 2017 tax returns been finalised as of yet? We specialise and understand small business borrowers and would welcome the opportunity to discuss and find a solution for you all. We are based on the Gold Coast. Regards Doug

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Shane

2 years ago

Hi again Md Z, once again my colleagues have already mentioned the ballpark of your borrowing capacity. I always make a point of sitting with my client and going through all of your needs to find the Lender that fits you best. All Lenders vary so it's best not to generalise. Feel free to contact me if you'd like something more specific.

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Guido

2 years ago

Hi Md Z using your income of 49k and 25k minus tax your borrowing power would be around to 280k - 300k However to get an exactly figure of your borrowing power I would be in need of your company or sole trader tax return for the last 2 years as some add back's could be done. If you have a credit card and or a car loan this are some examples impacting your borrowing capacity. Please feel free to contact me via the broker finder. I'm in WA, and would be happy to talk to you and do some number crunching Guido

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LEZLI

2 years ago

Hi Md. on the figures you have provided, you could borrow between $351,000 to 431,000 - depending on interest rate. Also FHOG & stamp duty varies on State you live in. Rates are from 3.67% varied for owner occupied homes or 3.69% fixed 2 years for FHO. Please feel free to contact me via my Profile page. Thanks. Kindest regards. Lezli

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Nathan

2 years ago

Hi Md, As a rough guide you could potentially borrow up to $420,000. This figure will be affected by your overall situation including but not limited to the following factors, how long you have been self employed for, previous years taxable income for your business, if you have any other debts, your monthly living expenses, how much you have saved, if you receive any government benefits such as Family Tax Benefit. Really we need to look at your entire situation and then provide a pre approval based on your specific circumstances. If you require more information or want to talk specifics head over to my profile page and make contact. Regards, Nathan

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Lester

2 years ago

Hi Md, Based on the information you provided, and assume that if both of you and your business don't have any other liabilities, it is possible for your family to borrow around $380,000 to $420,000. If you can advise about how much saving you can contribute to settle new home, I am able to work out the maximum property value you can buy. Please also be noted, the borrowing capacity is only based on the information you provided, and will be subject to further assessment.

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Luke

2 years ago

Hi Md Z, As others have already said, there will be some contributing factors to how much you can borrow and this will change from lender to lender too. If your self employed, how your income was last year will be important too. If your in Perth, please feel free to get in touch with me and we can have a chat about your situation.

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Daniel

2 years ago

Hi Md Z. What was your income the previous year. Need to see your financials as there may be add backs we can use for servicing. Contact me via my profile if you wish. Regards.

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Sean

2 years ago

Hi Md Z, To get a proper answer I will need some more information. The best way would be to organise a time to chat on the phone so I can get a better snap shot of your financial situation. If you are wanting to buy a new house we can assist with a grant on top of the First home owner grant if you buy through our property division. Cheers Sean

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